USD/MXN has found itself within a rather steep downtrend. The pair has topped at 19.6550 at the end of November and during the last several days dropped below the 100-, 50- and 200-day MAs.
Tag - mxn
The GBP is surging, the AUD inched lower and the MXN has strengthened
USD/MXN has been strengthening since the start of November, although you can notice by looking at the chart that the advance hasn’t been smooth.
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
USD/MXN has reached the support line which has been limiting its downside since the middle of 2017.
We've got a bunch of speeches by top banks' representatives and the Banxico interest rate decision during the American trading hours.
USD/MXN may have found a short-term base and can test resistance at 19.67.
USD/MXN had a very bullish August. The pair is currently testing the resistance line connecting the highs of 2017 and 2018 at 20.12.
USD/MXN is quite used to sideways trading. Is it time to buy or sell?
What is going on in the market today ?
On Tuesday, the improved market sentiment supported risky assets such as stocks, emerging-market currencies, and crude oil.
The weekend brought the deal between the United States and Mexico…